TCS Q3FY19 profit rises, but margins under pressure
TCS, the country's largest IT firm, reported stable Q3FY19 numbers despite seasonally weak quarter.
The IT firm registered topline growth of 2.43 per cent when compared on quarter-to-quarter basis. The company reported revenue of Rs. 38,501 crore for Q3FY19, up from Rs. 31774 crore for same period last year, with a YoY growth of 21 per cent. It reported operating profit of Rs. 11246 crore, which was higher by 2.16 per cent than the preceding quarter. The EBITDA margin for this period stood at 29 per cent. The net profit after taxes for this period stood at Rs. 8121 crore which was Rs. 7927 crore, higher by 2.44 per cent on QoQ basis.
The management in its commentary hinted towards double digit growth rate. It also clarified that the outlook on BFSI is quite positive. The pressure at the operational level was on account of the employee addition costs, which saw significant growth during the last quarter.
On Thursday, the stock closed at Rs 1888.15, just 0.02 per cent up from the previous close.